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Taking Stock

In February, 1900, W.N. Ferris devised a plan to sell capital stock in the Ferris Institute. In the first part of the drive, he sold 960 shares at $10 a share. By the end of the year he expanded the stock shares and there were 2,390 shares of stock in the Institute with W.N. Ferris holding 1,950, Mrs. W.N. Ferris holding 50, and other persons holding 390 shares. By the end of the year the school had $1,703.88 in the bank, $1,500 in certificates of deposit and $203.88 in cash.

Total receipts for the year 1900 were $7,099.77. Total expenses, including $3,985.93 for teachers' salaries and $113 to the janitors, were $5,395.89. Expenses also included $159.10 for coal and wood for heat and $29.90 for magazines and newspapers for the students. That apparently was the total library expense for the year. The bill for electricity for lighting the buildings came to $53.92 for the year.

The annual statement for the year Sept. 1, 1902 to Sept. 1, 1903, showed a gross income of $37,253.78, which included $3,540.63 on hand at the beginning of the year.

Expenses for the year, including $16,652.72 for faculty and secretarial salaries and $567.75 for janitors' salaries, were $27,907.34, leaving a balance on hand of $9,346.44.

By 1911, income had risen to $66,434.16, and expenses to $58,830. Salaries for faculty and staff that year amounted to $37,778.52. Another $1,000 went to the janitors. The fuel bill was $1,719.97 and the light bill was $329.91. Office supplies accounted for $759.38 and library expenses were $363.55.

That year the dividend to stockholders was $3,491.20. From the beginning the stockholders earned an eight percent dividend on the surplus left at the end of the year. This was pretty high in the early 1900's.

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